Aavegotchi Announces Litepaper on Upcoming Gamified Metaverse

Divya  |  Jun 24, 2021

Aavegotchi -- a project based on DeFi-focused nonfungible tokens(NFTs) that run on decentralized money market Aave -- has announced the release of a litepaper to educate people about its upcoming gamified metaverse called the “Gotchiverse”.

A unique combination of DeFi and NFTs, Aavegotchi enables investors to accumulate gains on their staked assets through interest and interaction with the projects’ metaverse.

Aavegotchi Litepaper Provides Details On The Metaverse And a New Token

Jesse Johnson, the co-founder of Aavegotchi, suggested that Gotchiverse’s litepaper was unlike other informational documents. It contained references to role-player games(RPGs) and a lot of backstories. He said, This is not your typical litepaper, it’s got a lot of lore in it. We’ve got a bit of a DeFi RPG in front of us.”

The gamified metaverse will introduce a new ERC-20 fungible token, the “Gotchus Alchemica”, which can be farmed at REALM land plots, that are similar to Decentraland’s MANA/LAND two-token system. 

Alchemica tokens will function as a currency of the metaverse and users can exchange them for upgrades to their REALM plots, like a “Gotchi lodge”, where players could come together to socialize and collaborate on farming efforts. While these upgrades require a certain number of blockchain blocks to complete, liquidity providers to “Gotchus Alchemica Exchange,” can expedite the process and receive rewards for their contribution.

Gamified Farming Is An Important Part of Gotchiverse

A considerable portion of Aavegotchi’s 14-page litepaper is devoted to the farming yield feature in the metaverse. Besides that, the document also paints an elaborate backstory for the gaming universe with immersive storytelling. 

Other than farming, the metaverse will also feature gameplay that’s heavily inspired by Pac-man. Like the retro classic, players in the Gotchiverse(Aavegotchis) will pace around collecting Alchemica, while evading the game’s antagonists, referred to as Liquidators. To safeguard their yield, players must return to their plots before being caught by the Liquidators.

Gotchiverse is still under development, but Johnson suggests that parts of the metaverse will become accessible from Q3 in 2021. To put together this experience, Aavegotchi has hired a 20-member team with seasoned talent from the video game industry.

Interest in gamified metaverses has been steadily growing as several brands make preparations to jump headfirst in the market. Earlier this month, NVIDIA’s CEO weighed on the company’s upcoming blockchain-powered project, Omniverse. Meanwhile, the founder of the online multiplayer game Fortnite also suggested that his company saw promise in NFTs.

 

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